The FA Cup final yesterday went the way of the favourite, with Manchester City coming out on top, and with plenty of punters backing City to win, all UK bookies lost a fortune on that match.
However, when you also factor in the result of the Grand National, which also went the way of the favourite and with the reduction in the stakes of FOBT’s, this year is looking like a bad one for the profits of all bookmakers in Great Britain.
There are of course plenty of sporting events scheduled for the summer and autumn and it will be during those months that betting companies will be hoping to claw back some of the cash they have been paying out on the results that haven’t gone their way so far this year.
One betting company that has somewhat hedged their bets however is William Hill, who have been massively expanding their US facing operation, and investors have been tipping their shares as ones that are likely to bear fruit this year.
Most bookies also have been heavily promoting their other gaming sites, such as those that operate bingo, casino and poker sites, which are going to help many of them keep their turnovers high and the cash rolling in.
But it is worth noting that the UK Advertising Standards Agency have been recently paying very close attention to the advertisements that all gambling related companies are using to promote their brands in the UK, and many companies have found themselves facing fines as their advertisements did not meet the very strict rules in place for promoting any gambling related sites and apps.